Partner Lessons, Reading for Investors, Zuckerberg’s 10-Year Plan

Why did Bingham McCutchen take a hard look at combining with another law firm? What was it like combining two large law firms into one? What is there to learn from a series of unforeseeable events? Here’s are the three points I address:

• What led up to the combination
• The combination process
• What firm leaders should know

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RECOMMENDED SUMMER READING for Investors

Dear Chairman: Boardroom Battles and the Rise of the Shareholder Activism by Jeff Graham Newly released read on the hot subject hitting the front page.
The Intelligent Investor by Benjamin Graham
A classic in Value Investing written by the Father of Value Investing.
The Essays of Warren Buffett: Lessons for Corporate America by Buffett and Cunningham  Buffett was Benjamin Graham’s protege at Columbia University. This book is excellent to begin peering into the mind of the oracle of Omaha.
Where Are the Customers’ Yachts? by Fred Schwed Jr Uncovering the truth about the financial services industry.
The Great Crash of 1929 by John Kenneth Galbraith A classic read on what lead up to the historical moment.
The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor by Howard Marks One of my favorite books on the psychology of investing.
You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits by Joel Greenblatt
This book is written for the special situation investor. The best investment read for the decade.
The Five Rules for Successful Stock Investing by Pat Dorsey A very practical read written by the director of stock analysis at Morningstar.
The Education of a Value Investor by Guy Spier Would you pay $650k to have lunch with Warren Buffett? This “guy” did.
Deep Value: Why Activists and Other Contrarians Battle for Control of Losing Corporations by Tobias Carlisle Another great read into the world of Activists.
Lateral Moves: A Guide for Partners & Law Firms *Get our new free book*
 

LEADERS CORNER

Zuckerberg’s 10-Year Plan –– on Tuesday Facebook’s founder/CEO announced his next BHAG — “give everyone the power to share anything with anyone” (he literally means all 7+ billion people). Notes this USA Today report, it’s supported by three pillars:

• Artificial intelligence, which will help Facebook better sift through and understand all the photos, videos and updates people post to Facebook;
• Connectivity, the goal of making Facebook and the internet available everywhere and to everyone through lasers and drones;
• Virtual and augmented reality, which Zuckerberg says one day will bring friends together even if they are on other sides of the planet through a pair of “normal-looking” glasses that can overlay digital elements on the physical world and become “the most social platform.”

It was a politically charged and powerful speech, worth the 2 minutes to read USA Today‘s summary. Click here for the full speech.

By Verne Harnish of Gazelles

 

RESOURCES & TOOLS

*Updated & Revised* – JOB HUNTING SYSTEM
How to Get Your LinkedIn Profile on the First Page Search Results
*Updated & Revised* – Law Partner Departure Checklist
The Tale of Two Law Firm Mergers
Is Your Law Firm At-Risk Being Reactive?

STAY CONNECTED

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“Not all readers are leaders, but all leaders are readers.” -Harry S. Truman

 

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